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Features & Benefits
Exclusively for Defence personal,both In Service & Retired
Tenure 25 Months
Widows of Defense Personel
Extra 0.50% Interest for Senior Citizens
Scheme Detail
- On the occasion of the 25th Silver Jubilee Year of Kargil Vijay Diwas, we are proud to introduce the Lokmanya Sainik Sanman Yojana, a special target audience scheme designed to honor our brave defense personnel-both retired and in service. This exclusive scheme is tailored for our heroes in the Army, Navy, Air Force, and also extends to the widows of defense personnel.
- The minimum deposit under this scheme is Rs.10,000/-, with no maximum limit.
- Senior citizens and those making a bulk deposit (single receipt of Rs.10.00 lakh and above) can avail an additional interest rate of 0.50% per annum. Please note that these benefits cannot be combined; only one of the benefits will apply, leading to an effective interest rate of 11.30% per annum.
- Premature withdrawal is allowed with a penalty deduction of 2.5% per annum on the applicable rate for the expired period of the deposit.
- Deposit holders can avail a loan against their deposits up to 90% of the deposit amount, with an interest rate 2% higher than the deposit rate.